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Company Registration No. 11369126 (England and Wales)
BFAM Properties Limited Unaudited accounts for the year ended 31 May 2023
BFAM Properties Limited Unaudited accounts Contents
Page
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BFAM Properties Limited Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investment property
221,364 
221,364 
Current assets
Debtors
629 
492 
Cash at bank and in hand
9,835 
7,188 
10,464 
7,680 
Creditors: amounts falling due within one year
(68,466)
(56,845)
Net current liabilities
(58,002)
(49,165)
Total assets less current liabilities
163,362 
172,199 
Creditors: amounts falling due after more than one year
(147,483)
(167,767)
Net assets
15,879 
4,432 
Capital and reserves
Called up share capital
3 
3 
Profit and loss account
15,876 
4,429 
Shareholders' funds
15,879 
4,432 
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 14 February 2024 and were signed on its behalf by
Amanpreet Boughan Director Company Registration No. 11369126
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BFAM Properties Limited Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
BFAM Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 11369126. The registered office is SLATELEY HALL, KINGSBURY, TAMWORTH, B78 2EW, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the total rent receivable for the year.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation assets and liabilities are not discounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Going concern
The balance sheet at the end of the year recorded net liabilities. However, the directors believe that sufficient financial resources are available to the company to enable it to continue trading into the foreseeable future. Therefore, the financial statements have been prepared on a going concern basis
4
Investment property
2023 
£ 
Fair value at 1 June 2022
221,364 
At 31 May 2023
221,364 
The investment property was valued on a fair value basis on 31 May 2019 by the director.
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BFAM Properties Limited Notes to the Accounts for the year ended 31 May 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
629 
492 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
17,567 
9,895 
Taxes and social security
3,154 
3,356 
Other creditors
3,050 
3,050 
Loans from directors
43,779 
39,715 
Accruals
916 
829 
68,466 
56,845 
The bank loan is secured against the investment property of the business.
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
147,483 
167,767 
The bank loan is secured against the investment property of the business.
8
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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